Materials by tag Regulations

The major financial market regulator the Israel Money Laundering and Terror Financing Prohibition Authority has created a fintech draft which is aimed at helping to track and control suspicious cryptocurrency activity, according to a local news company’s post published yesterday, May 28.

Virtual Limited Liability Companies (VLLCs) working on blockchain technology will be launched in Lithuania. The country considers the possibility of allowing entities from different parts of the world to register and operate their fintech companies there. A draft has been already processed by the Lithuanian Centre of Registers.

The Australian Transactions and Reporting Analysis Centre (AUSTRAC) recently announced the implementation of new crypto market regulations. According to them, all domestic cryptocurrency exchanges must obey the requirements which include anti-money laundering and counter-terrorism financing. The mandatory obligations took effect starting Tuesday, April 3.

It was reported on AtoZForex on March 14, 2018, that the Japanese government will initiate a discussion at the G20 annual summit in Buenos Aires on March 19-20 to develop a unified anti-money laundering (AML) plan for cryptocurrency markets.

The Blockchain industry is seriously on the move, 2017s market boom confirmed that not only is the speculative investment side of blockchain alive and thriving, but so is the rallying support for the Industry as a whole. Blockchain solutions are growing exponentially worldwide, the tech breakthrough is showing no signs of stopping, but there are external pressures coming from governments and regulatory bodies that threaten blockchain growth and mass-adoption.

The President of Uzbekistan, Shavkat Mirziyoyev, agreed to approve the creation of a competence center for distributed ledger technologies and Blockchain at the fintech Mirzo Ulugbek Innovation Center. A draft law, regulating e-currency in legal terms, should be ready till September 1st.

On Monday, February 19, the Israel Tax Authority released a professional circular describing the country’s tax policy on cryptocurrency trading, especially Bitcoin. The government institution explained that any cryptocurrency should be regarded as an asset, rather than currency.

What are the legal, regulatory and tax policy prospects for the token sales sector in India? This question will be answered by panel discussion participants at Blockchain & Bitcoin Bengaluru conference on February 22.